European Commission President Ursula von der Leyen has welcomed Hungary’s recent reforms under Prime Minister Péter Magyar, announcing the release of €16.4 billion in previously frozen EU funding.
Speaking in Brussels on Friday (29 May), von der Leyen said Hungary had made progress on anti-corruption measures, rule of law reforms, and restructuring public interest trusts linked to state capture concerns.
The announcement follows a major political shift in Hungary after the April 2026 election, which ended Viktor Orbán’s 16-year period in office and brought Péter Magyar’s pro-European Tisza party to power with a parliamentary supermajority.
Magyar campaigned on restoring ties with the European Union, tackling corruption, and reversing democratic backsliding that had strained relations between Budapest and Brussels for years.
Key developments include:
- Hungary agreeing to join the European Public Prosecutor’s Office (EPPO)
- €10 billion unlocked through the revised NextGenerationEU plan
- €4.2 billion in Cohesion funds approved
- Hungary set to rejoin the Erasmus programme from the next academic year
Magyar described the agreement as a “historic breakthrough”, stating the reforms aim to restore investor confidence, support SMEs, modernise transport infrastructure, and strengthen public services across Hungary.
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